Common use of License of Intellectual Property Clause in Contracts

License of Intellectual Property. Debtor hereby assigns, transfers and conveys to Lender, effective upon the occurrence of any Event of Default, the nonexclusive right and license to use all Intellectual Property owned or used by Debtor together with any goodwill associated therewith, all to the extent necessary to enable Lender to realize on the Collateral and any successor or assign to enjoy the benefits of the Collateral. This right and license shall inure to the benefit of all successors, assigns and transferees of Lender and its successors, assigns and transferees, whether by voluntary conveyance, operation of law, assignment, transfer, foreclosure, deed in lieu of foreclosure or otherwise. Such right and license is granted free of charge, without requirement that any monetary payment whatsoever be made to Debtor by Lender.

License of Intellectual Property. Debtor Borrower hereby assigns, transfers and conveys to LenderAgent, effective upon during the occurrence of any Event of DefaultDefault hereunder, the nonexclusive right and license to use all Intellectual Property owned or used by Debtor Borrower together with any goodwill associated therewith, all to the extent necessary to enable Lender Agent to realize on the Collateral and any successor or assign to enjoy the benefits of the Collateral. This right and license shall inure to the benefit of Agent and all successors, assigns and transferees of Lender and its successors, assigns and transferees, whether by voluntary conveyance, operation of law, assignment, transfer, foreclosure, deed in lieu of foreclosure or otherwise. Such right and license is granted free of charge, without requirement that any monetary payment whatsoever be made to Debtor Borrower by LenderAgent.

License of Intellectual Property. Debtor Borrower hereby assigns, transfers and conveys to LenderAgent, effective upon the occurrence of any Event of DefaultDefault hereunder, the nonexclusive right and license to use all Intellectual Property owned or used by Debtor Borrower together with any goodwill associated therewith, all to the extent necessary to enable Lender Agent to realize on the Collateral and any successor or assign to enjoy the benefits of the Collateral. This right and license shall inure to the benefit of all successors, assigns and transferees of Lender Agent and its successors, assigns and transferees, whether by voluntary conveyance, operation of law, assignment, transfer, foreclosure, deed in lieu of foreclosure or otherwise. Such right and license is granted free of charge, without requirement that any monetary payment whatsoever be made to Debtor Borrower by LenderAgent.

License of Intellectual Property. Each Debtor hereby assigns, transfers and conveys to LenderAgent, effective upon the occurrence and during the continuance of any Event of Default, the nonexclusive right and license to use all Intellectual Property owned or used by such Debtor together with any goodwill associated therewith, all to the extent necessary to enable Lender Agent to realize on the Collateral and any successor or assign to enjoy the benefits of the Collateral. This right and license shall inure to the benefit of Agent and all successors, assigns and transferees of Lender and its successors, assigns and transferees, whether by voluntary conveyance, operation of law, assignment, transfer, foreclosure, deed in lieu of foreclosure or otherwise. Such right and license is granted free of charge, without requirement that any monetary payment whatsoever be made to any Debtor by LenderAgent.

License of Intellectual Property. Debtor Each Borrower hereby assigns, transfers and conveys to LenderAgent, effective upon the occurrence and continuance of any Event of DefaultDefault hereunder, the nonexclusive right and license to use all Intellectual Property owned or used by Debtor such Borrower together with any goodwill associated therewith, all to the extent necessary to enable Lender Agent to realize on the Collateral and any successor or assign to enjoy the benefits of the Collateral. This right and license shall inure to the benefit of Agent and all successors, assigns and transferees of Lender and its successors, assigns and transferees, whether by voluntary conveyance, operation of law, assignment, transfer, foreclosure, deed in lieu of foreclosure or otherwise. Such right and license is granted free of charge, without requirement that any monetary payment whatsoever be made to Debtor any Borrower by LenderAgent.

License of Intellectual Property. Debtor Each Grantor hereby assigns, transfers and conveys to Lender, effective upon the occurrence of any Event of Default, the nonexclusive right and license to use all Intellectual Property owned or used by Debtor such Grantor together with any goodwill associated therewith, all to the extent necessary to enable Lender to realize on the Collateral and any successor or assign to enjoy the benefits of the Collateral. This right and license shall inure to the benefit of all successors, assigns and transferees of Lender and its successors, assigns and transferees, whether by voluntary conveyance, operation of law, assignment, transfer, foreclosure, deed in lieu of foreclosure or otherwise. Such right and license is granted free of charge, without requirement that any monetary payment whatsoever be made to Debtor such Grantor by Lender.